Shares declined 2.1% as investors likely digested cautious commentary on consumer discretionary pressures, ongoing supply chain challenges, and slower growth in key segments despite steady top-line execution.

• Revenue of $368.7 million came in at the high end of guidance; adjusted EBITDA of $35.7 million exceeded guidance.
• PVG segment sales grew 17.4% YoY, supported by timing dynamics, but automotive demand showed restraint amid rising gas prices.
• AAG segment revenue increased a modest 2.6% YoY, weighed down by the divestiture of Phoenix operations.
• Powersports business remained cautious with ongoing macro headwinds, despite structural improvements and OEM channel normalization.
• Management emphasized continued cost reduction initiatives ($50 million targeted in 2026) and portfolio simplification focused on margin accretion.